Before the COVID-19 pandemic, nearly a third of new car shoppers chose to lease their cars. Today, fewer than 19% of buyers choose the option — and experts say that figure could decline even further by the end of 2022.
Leasing allows car shoppers to qualify for smaller monthly payments. It also lets them get into a new car without committing to owning an aging, depreciating asset over the long run. Higher prices. Lease payments are traditionally lower than payments on a new car loan. But, as new car prices have soared, lease payments have grown so high that they’ve pushed some buyers out of the market. Today’s average lease payment is about as high as 2020’s average loan payment. That may be leading some shoppers to sit out of the market completely.
This could mean fewer used cars later The trend away from leasing has short- and long-term implications, Chesbrough says.
Lease a car is a rip off!!!!